Yahoo acquires Tumblr, promises 'not to screw it up'

Yahoo has
confirmed that it has acquired blogging site Tumblr for $1.1
billion (£722,000,000) highlighting that it has promised "not to
screw it up".

As part of this promise, Tumblr will be independently operated
as a separate business, with CEO David Karp remaining at the helm.
The product and brand will remain the same, Yahoo said in a press
release.

Tumblr has more than 300 million monthly unique visitors and
there are 900 posts made to the site every second. The acquisition
will boost Yahoo's audience by 50 percent to more than a billion
monthly visitors. This will help to add a huge amount of inventory
to Yahoo's media network, while Tumblr can "deploy Yahoo's
personalisation technology and search infrastructure".

Yahoo's CEO Marissa Mayer said: "Tumblr is redefining creative
expression online. On many levels, Tumblr and Yahoo couldn't be
more different, but, at the same time, they couldn't be more
complementary. Yahoo is the internet's original media network.
Tumblr is the internet's fastest-growing media frenzy."

She added that David Karp "is one of the nicest, most empathetic
people," she's ever met. "He's also one of the most perceptive,
capable entrepreneurs I've ever worked with."

Karp adds that his "team isn't changing" nor is Tumblr's
roadmap.

Despite this, as Box CEO Aaron Levie said in a Tweet:

48 more hours until your parents find out about -then subsequently join- Tumblr. Enjoy it while it lasts.

Meanwhile, RadiumOne's European MD Rupert Staines
believes that Yahoo's interest in Tumblr is all down to data: "The
data that Tumblr can offer to Yahoo will bring tremendous audience
insight, which will help drive its business and stimulate its share
price. Marissa Mayer is smart, she understands that in order to get
greater market share, positive share of voice and ultimately grow
the business, something has to change. Yahoo's focus on lifestyle
has to be insight driven and Yahoo stands to gain in this through
Tumblr."